Nearly 1 Billion SpaceX Shares Unlock On Aug. 6. Here's What Retail Investors Should Do.
Investors should monitor SpaceX's lock-up periods.
Overview
Space Exploration Technologies (NASDAQ: SPCX) just conducted one of the most successful IPOs in history. After setting an initial IPO price of $135 per share with a market cap of $1.77 trillion, share prices shot higher during the space stock's public debut. At one point, SpaceX stock soared above $225 per share.
The exuberance was short-lived. Just six weeks after its IPO, SpaceX's stock price is now below $117 per share. That's about 13% lower than the company's original IPO price.
Details
SpaceX is expected to announce its first-quarter earnings on Aug. 4. I don't expect many surprises on a material level, but I do expect CEO Elon Musk to do his best to hype the struggling rocket stock. That's especially true given another major event that will come just days after the second-quarter earnings release.
Source
Originally published at www.fool.com.